Wall Street Zen Downgrades Waystar (NASDAQ:WAY) to Hold

Waystar (NASDAQ:WAY) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other research firms have also weighed in on WAY. Citizens Jmp started coverage on shares of Waystar in a research note on Thursday, September 18th. They set a “mkt outperform” rating and a $48.00 price objective on the stock. Citigroup lifted their price target on shares of Waystar from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Baird R W raised shares of Waystar to a “strong-buy” rating in a report on Friday, September 5th. Robert W. Baird started coverage on shares of Waystar in a research report on Friday, September 5th. They issued an “outperform” rating and a $44.00 price objective for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Waystar in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $48.69.

Waystar Price Performance

Shares of WAY opened at $36.88 on Friday. The stock has a market cap of $7.06 billion, a P/E ratio of 59.48, a price-to-earnings-growth ratio of 0.57 and a beta of 0.64. Waystar has a 1 year low of $29.50 and a 1 year high of $48.11. The stock’s 50-day moving average price is $37.01 and its two-hundred day moving average price is $37.58. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 0.38.

Insider Buying and Selling at Waystar

In other Waystar news, CMO Melissa F. (Missy) Miller sold 3,400 shares of Waystar stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $37.00, for a total value of $125,800.00. Following the sale, the chief marketing officer owned 193,261 shares of the company’s stock, valued at $7,150,657. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Matthew J. Hawkins sold 12,800 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $38.08, for a total value of $487,424.00. Following the transaction, the chief executive officer directly owned 717,474 shares of the company’s stock, valued at $27,321,409.92. This represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,499,581 shares of company stock valued at $176,385,253 over the last quarter. 4.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Waystar

Several hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Waystar by 38.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,170 shares of the company’s stock valued at $754,000 after purchasing an additional 5,635 shares during the last quarter. XTX Topco Ltd bought a new position in Waystar in the first quarter valued at $468,000. US Bancorp DE acquired a new stake in Waystar in the 1st quarter valued at $537,000. PNC Financial Services Group Inc. lifted its position in Waystar by 2.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,687 shares of the company’s stock worth $549,000 after buying an additional 304 shares in the last quarter. Finally, Blair William & Co. IL grew its holdings in shares of Waystar by 3.3% in the 1st quarter. Blair William & Co. IL now owns 61,517 shares of the company’s stock valued at $2,298,000 after acquiring an additional 1,975 shares in the last quarter.

About Waystar

Waystar Holding Corp. is a software company which provide healthcare payments. Waystar Holding Corp. is based in LEHI, Utah.